With a “sale pending” sign still hanging over Dell, the computer maker posted another quarter of cratering profits, although sales held up better than expected.

The company on Thursday said net income for its fiscal second quarter slipped 72%, while revenue was essentially flat.

Dell’s said its net income for the period ended Aug. 2 was $204 million, or 12 cents per share, compared with profit in the year-earlier of $732 million, or 42 cents. Revenue rose to $14.51 billion from $14.48 billion. Read More »

Michael Dell and Silver Lake are close a new pact with the special board committee that would include a bump up in the price by 10 cents a share (which they had offered before), plus a special dividend, David Benoit and Sharon Terlep report. Also, the regular third-quarter dividend would be guaranteed. So much for “best and final offer.” Read More »

Dell founder Michael Dell and private-equity firm Silver Lake Partners upped their offer to take the computer company private by 10 cents a share to $13.75 — so long as a proposed change in the voting is followed. In a letter to the special committee, the new bid is described as the “best and final offer.”

A vote on the buyout, previously rescheduled for tonight, was pushed back again until Aug. 2. The special committee said it has received and is evaluating the offer. Here’s MoneyBeat’s continuing coverage, they will have much more on this latest step. Meantime, here’s the letter inside the jump. Read More »

The fate of Dell’s tortured $24.4 billion deal to sell itself will hinge on the game of chicken being played by wealthy people and institutions like Michael Dell and Vanguard. Still, every vote counts. A couple of Dell’s smaller shareholders explained Thursday why they turned in “no” votes. Read More »

“A business transformation in this industry, which is continuing to transform itself, will likely have a moving target, speed of transformation is especially crucial for success,” the ISS report said. MoneyBeat has more highlights from the ISS report, including raising questions about Carl Icahn’s competing bid. Read More »

Ian Salisbury explains how investors must not be greedy in holding out for an attractive deal in the bidding war for Dell, and points to a recent example that cost investors dearly to illustrate his point. Read More »

Michael Dell met with officials from Blackstone Group over two days earlier this month, discussions that took place before the private-equity firm decided to make a play for the computer maker, according to people familiar with the situation.

The meetings, which occurred on March 6 and 7 at Blackstone’s Manhattan offices, will be disclosed as part of a proxy filing expected later Friday. The proxy shows that Mr. Dell met with Blackstone earlier than previously thought, the people said.

The proxy that will paint a dire picture of the company and explain why Dell thought a $24.4 billion buyout bid from private-equity firm Silver Lake Partners and Mr. Dell was the best offer it would get, according to people who have reviewed the document.

Mr. Dell’s relationship with Blackstone has become a focal point for investors speculating about who will gain ultimate control of the computer-maker he founded in 1984. The firm is challenging the bid from Mr. Dell and Silver Lake with a proposal to offer at least $14.25 a share, while allowing shareholders to retain some of their stock.

Mr. Dell founded Dell, runs the company and is its largest shareholder. As part of the merger agreement, he has agreed to explore “in good faith” other bids.

Earlier this week, a person familiar with Mr. Dell’s thinking said he considered Blackstone’s offer “management friendly.”